Trade

Unfairly-traded steel imports remain the top threat to the steel industry in the United
States. Surges in these imports are fueled by (1) foreign government subsidies and other
market-distorting practices; (2) the resulting massive global steel overcapacity; (3)
dumping steel into the U.S. market by selling imports at artificially low prices; and (4)
circumvention of U.S. trade remedies.

Foreign government subsidies, government ownership and control of major producers,
currency manipulation, tax preferences, investment restrictions and other marketdistorting
policies in the raw materials and steel sector promote exports at the expense of
U.S. steelmakers.

Industry Position

Foreign government subsidies and other market-distorting policies
have resulted in massive global steel overcapacity and significant levels of steel imports,
resulting in thousands of U.S. job losses and numerous plant closures. The United States
must take broad action under Section 232 to protect our national security; press China
and other nations to eliminate their steel overcapacity and to end all subsidies and other
market-distorting policies that promote steel overcapacity; enforce aggressively U.S. trade
laws against dumping and subsidies by using all available tools; modernize and
strengthen the NAFTA; respond to foreign government currency manipulation; and
defend aggressively our ability to apply non-market economy methodology to remedy
injurious dumping by China.